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Buyers Agent watchdog body in Qld

Discussion in 'Real Estate' started by Jacque, 17th Oct, 2005.

  1. Jacque

    Jacque Team InvestEd

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    Sydney
    I recently had the pleasure of chatting with the chairman of QBAIG (Qld Buyers Agents Interest Group), Scott McGeever, who runs the very successful Property Researchers Buyers Agency in Brisbane. This new body has been recently set up within the REIQ to establish minimum standards of business practice for buyers agents in Qld, and can only be good news for those clients wishing to employ an appropriately licensed BA up in the sunny northern state.
    They are setting up a register of licensed BA's on the REIQ website, to make it easier for consumers when electing to use the services of a BA.
    Unfortunately, there are still many operators masquerading as independent BA's, when all they are really doing is flogging stock on new developments (for which they are receiving a commission) or acting on behalf of both the vendor and buyer, and pocketing fees from vendors as well.
    An truly independent BA should be scouring the market for all property for sale, not just property from particular developers or specific RE agencies. They are paid by the buyer only and should be working in their best interests at all times and in all transactions.
    All good news, as far as I'm concerned, as an independent BA should be totally dedicated and representative of their client (the buyer) and in no way influenced by other parties.
    Perhaps the biggest and most important factor, however, is the amount of trust that you place in the BA to find a property with the same degree of enthusiasm and diligence that you would expect of yourself.
    When selecting a BA, look for someone who is not only licensed, experienced and knowledgeable but also truly passionate about what they do.
     
  2. kennethkohsg

    kennethkohsg Well-Known Member

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    Dear All including Jacque,

    1. I used to engage Scott McGeever for his buyer agent services before to support my own research for my own property investing into the Goldcoast property market. Scott is Brisbane-based, though. I have found Scott
    McGeever to be an honest and trustworthy person.

    2. For your kind update, please.

    3. Thank you.

    regards,
    Kenneth KOH
     
    Last edited by a moderator: 22nd Oct, 2005
  3. Jacque

    Jacque Team InvestEd

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    Good to hear Kenneth :)
    I can imagine that, being so far away, using a BA was the best option for you. Can I ask why you chose Scott over others? What was it that stood out for you?
     
  4. kennethkohsg

    kennethkohsg Well-Known Member

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    ************************************
    Dear Jacque,

    1. Scott McGeever was recommended to us by a HK-based Michael Bentley, who was then marketing the apartment units for Flynn Apartment Project in Brisbane, back in 2002.

    2. We did not know of other BAs in Brisbane then.

    3. However, what Scott impressed me most, is his personal convictions to truthfully state what his own professional assessments are and that he was totally committed in protecting our interests as his clients. He was able to source out a good property at the then Crestwood estate at Molendinar, Goldcoast area, for our investments which saw immediate capital growth within less than one month.

    4. For your kind update, please.

    5. Thank you.

    regards
    Kenneth KOH
     
  5. Jacque

    Jacque Team InvestEd

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    Thanks for that, Kenneth. Trust in the person is so very important isn't it?
    Are you still buying and building in Qld then, Kenneth?
     
  6. kennethkohsg

    kennethkohsg Well-Known Member

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    ****************************************
    Dear Jacque,

    1. Not exactly... as I have sold off my 2 properties in the Goldcoast market during the last recent boom and re-invested into the Perth Property market in 2003.

    2. Presently, I am still awaiting for the Goldcoast's SWELL Residence Project to complete and to legally settle on the off-the-plan purchase for a apartment unit in 2006 at Burleigh Head, Qld 4220.

    3. For your kind update, please.

    4. Thank you.

    regards,
    Kenneth KOH
     
    Last edited by a moderator: 28th Oct, 2005